Digital asset exchange CoinZoom has just announced it has teamed up with Railsbank to issue Visa debit cards in Europe, according to a press release shared with iHodl.
Thanks to this cooperation, starting this summer, CoinZoom will be able to offer Visa debit cards, both virtual and physical, to its European users.
According to CoinZoom, the card can be used in online and physical stores to make purchases, while users will also be able to withdraw cash directly from ATMs.
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The card is connected to the users' account on the platform. However, they must pre-select the wallet they want the funds to be withdrawn from: fiat, Bitcoin, Ethereum, Litecoin or any other crypto stored in their wallet.
It must be noted that when using the card, cryptos will be converted to fiat before the transaction takes places.
In order to incentivize its use, users will receive a 1-5% cash back in crypto on every purchase.